26 June 2024 Punjab Khabarnama : After a muted start on June 26, the Nifty and Sensex gathered pace and scaled fresh record highs, extending previous day’s gains. NSE Nifty 50 climbed above 23,800 mark for the first time.
The upbeat sentiment on the bourses stems from positive expectations from the upcoming budget and increased investor interest in largecap stocks. Nifty Bank also touched a new record high of 52,908. Experts suggest that banking stocks have now taken the leadership to take the markets higher.
“The risk-reward ratio has now become favourable for the private sector banks which have not rallied in the last year significantly compared to what we have seen in other sectors,” Ruchit Jain, lead research analyst at 5paisa, said in a conversation with Moneycontrol.
At about 11:45 am, the Sensex was up 0.50 percent at 78,440 and the Nifty was up 0.4 percent at 23,812.30. About 1,862 shares advanced, 1,417 shares declined, and 95 shares unchanged.